Craft Brewery Financial Training Podcast

Key metrics measure the most important things in the brewery. Things like sales growth, margins, profits, and cash flow. When identifying key metrics, the first step is to measure what matters. Start with one problem you need to solve or one opportunity to take advantage of. The next step is to build a dashboard of key metrics. Identify one company goal, one KPI that is critical to watch, like cash flow. Then build up the KPIs for each department that support the company goal.  Key TopicsHow to use lagging indicators, leading indicators, process goals, and outcome goalsBest practices in choosing key metricsExample scorecards, templates, and dashboardsHow to align compensation and KPIsResourcesLearn more about the Beer Business Finance AssociationReady to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.

The average health insurance premium for families and individuals has increased more than 24% in the last five years, according to the Kaiser Family Foundation. And there's no sign of this slowing down.For breweries who want to provide good, affordable healthcare for employees these cost increases are a real problem.One option to lower costs and provide better benefits comes in the form of self-funded health insurance.Speaking from my own experience, self-funded health plans saved our company millions of dollars.Yes. Millions.What exactly is self-funded insurance? How does it work? How do I know if this will be right for my business?You've got a lot of questions, and Erin Butler from BevCap management has answers.  Listen to the podcast and check out the resources below to learn more.Key Points65% of covered workers in the U.S. have self-funded health insuranceSelf-funded insurance has been available in the U.S. since 1974, with the passage of the Employee Retirement Income Security Act (ERISA)Bottom line, self-funded insurance is not new nor limited to just a handful of large companiesResourcesWatch the video of my interview with Erin and download the self-funded health insurance presentation deckConnect with Erin to learn more about how you can lower costs and provide superior health benefits, ebutler@bevcapmanagement.comReady to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.

In today's podcast we break down the key steps to build (and implement) a successful brewery financial plan.The financial plan is the road map. Where are you now? Where do you want to go? What does financial success look like?  Listen to the podcast. Download the resources. Build your best plan EVER today! Key TakeawaysUse the 6 building blocks to organize the planning processThe X Factor to financial planning success How to crowd source the best ways to grow sales and cut costsSimple and complex financial models to build your best planResourcesJoin our network of brewery owners and managers working together to build the best brewery financial plan EVER!Get the Brewery Financial Training Program included with your membership to the brewery networkReady to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.

Tom DeMayo is a partner with PKF O'Connor Davies, specializes in cybersecurity, and is a self-described 'ethical hacker'.Cybercrime is a $10 trillion problem globally, and breweries are target.In today's podcast, Tom shares how these crimes occur, how to find out if your brewery is vulnerable, and what steps you can take right now to prevent a ransomware attack. Key PointsTerms defined: Dark web, deep web, surface web, ransomwareHow hackers break in to your systems and what you can do to prevent thisBasics of compliance testing and risk assessmentTips for creating and managing those pesky login credentials The case for a cybersecurity committee ResourcesConnect with Tom and learn how to protect your beer business from cybercrimes, TDemayo@pkfod.comReady to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.

Today we welcome back Tim Near from Agrowgate, a company that works to save you money on cost of goods sold. Think cans, cardboard, malt, freight and so much more. Key PointsState of the industry: Trends in costs and commodity pricingBrewery purchasing 101: Best practices How to properly source key ingredients Keys to benchmark your costs against industry averagesResourcesConnect with Tim Near and learn more about how to save money Listen to the Brewery Supply Chain Management podcastJoin the brewery financial network - connect with other brewery owners to learn best practices to improve profits and cash flowReady to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.

In today's podcast we hear the audio version of a recent Brewery Financial Round Table meeting where we tackle brewery cost management and expense reduction.Summary of key points:​Use this 1-2-3-4 step process to put a laser focus on cost cutting and reductionShare the Brewery Financial Training Program with your managers and staff – train them in the ways of identifying and reducing (or eliminating) bloated costsKey challenges we discussed: Controlling costs related to production and materials, freight and shipping, finding efficiencies, avoiding cost surprises, improving culture and communication78 Ideas to cut costs and improve financial results – Double Your Profits in 6 Months, by Bob FiferDan Klasen from the Beverage Federation shared details on the group purchasing organization (GPO) to help you save a ‘craft load’ of money​Join the membership today and get instant access to the brewery financial round table replay, presentation deck, and brewery cost cutting resources.Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.

Today on the podcast we hear from Scott Birkner, VP and Business Lending Specialist at Dogwood State Bank. Scott shares insights on how to use SBA loans to purchase an existing brewery or make a partial acquisition of a brewery. Key TopicsHow to finance a start-up brewery, buy an existing brewery, or make a partial acquisition using SBA loansState of the lending industry: Credit availability, interest rates, trendsWhat does the future of lending look like? Scott looks into his crystal ball and shares his observationsResourcesConnect with Scott and learn more about brewery acquisition financing, sbirkner@dsbnc.comJoin the Beer Business Finance Association - we talk brewery finances all the time! Ready to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.

In this discussion, Dave Williams of Bump Williams Consulting, a consultant focusing on non-alcohol beer, shares compelling insights about this booming sector. He delves into major players and recent sales trends, highlighting the impressive growth of brands like Heineken and Athletic Brewing. Retailer strategies are changing, with more shelf space and a shift towards can packaging. Dave also predicts a bright future for non-alcoholic options and emphasizes the importance of data analysis for breweries navigating this expanding market.

Join marketing guru Julie Rhodes, founder of Not Your Hobby Marketing, as she dives into the critical fusion of marketing and finance for breweries. Julie underscores why now is the perfect time to ramp up marketing efforts and reveals innovative strategies to engage customers through omni-channel marketing. She discusses the importance of knowing when to hire sales reps and how to structure their compensation effectively. With practical advice and fresh ideas, she empowers breweries to enhance profitability and brand visibility.

Today on the podcast we hear from Ross Stensrud, co-founder of Tapwyse, a developer of custom branded apps for taproom breweries.Ross shares his experience working in commercial fitness - where the business model is all about memberships and recurring revenue - and how this idea can be applied to your taproom to grow sales.Key PointsHow to develop an app for your brewery to grow sales and create predictable recurring revenueBest practices to re-imagine the 'mug club' so you can add unlimited members The best incentives to get customers to download your app, use it to buy your offerings, and receive push messages to come back to your taproom more oftenResourcesGet in touch with Ross and learn how to grow taproom sales with recurring revenue, ross@tapwyse.comJoin the Beer Business Finance Association, we are a group of brewery owners and managers, working together to grow sales and improve profitabilityReady to transform financial results in your beer business? Learn more about the Beer Business Finance Association, a network of owners and managers working together to build more profitable companies.